Who is listening?
Thursday 09 Mar 2017
More interesting policy moves and positions presented this week on the issue of addressing housing affordability. It’s a worthy and valid debate that has long been discussed but never seriously addressed however it looks like there is now sufficient pressure and political will to make some changes. We live in interesting times in terms of the potential for property policy changes but have you noticed? The market doesn’t seem to care?
There is always a risk that talk of a change in regulations will influence behaviour even before it is officially endorsed. The potential for policy implementation to impact significant, long term financial decisions relating to buying or selling property certainly exists.
Buyers are still queueing to buy and savvy vendors are taking advantage of that demand.
I welcome discussions about stamp duty. I also think it is important to have a sensible debate about negative gearing but it is very interesting to see that right now the market isn’t listening.
And I think that is a great indication of the sustainability that exists across the Sydney property market. Despite talk of looming apartment oversupply. Despite the debate on changes to negative gearing and stamp duty that could deliver a bonus or bombshell for buyers and investors they are still determined to act now.
Now is a great time to be active in the market. Policies might change but how and when is a question I don’t think anybody can answer. In my view it is a wise move to listen to the market now rather than predictions for the future.